ALBAWABA - Saudi Arabia plans to develop the largest modern downtown in the world in the capital city Riyadh in line with the objectives of the Saudi Vision 2030.
On Thursday, Crown Prince Mohammed bin Salman Al Saud announced the launch of the New Square Development Company, where he is the chairman of the board of directors to implement the new project, which would contribute to developing the future of the capital, according to a Saudi announcement.
Saudi Crown Prince Mohammad bin Salman announced the launch of the #Murabba project to develop the world's largest modern "downtown" in #Riyadh supporting non-oil GDP by up to 180 billion Riyals.#NewMurabba https://t.co/tMTfOyP2ei— Firstpost (@firstpost) February 16, 2023
The announcement said the project is based on the application of sustainability standards and raising the level of quality of life. It will offer green spaces and walking paths to promote health and sports concepts as well as community activities.
The project will be constructed on an area of more than 19 square kilometers, and a floor area of more than 25 million square meters, according to the announcement. It said the area will provide thousands of residential units, commercial and office spaces, in addition to about 620,000 square meters for entertainment and other facilities. The downtown will also provide internal and modern means of transportation.
The project is slated to present a unique experience for living, working and entertaining at the same time.